The NY Times = Enron

I'm watching 60 Minutes--mainly because it was on after the NCAA Selection Show--and they are interviewing Kenneth Lay of Enron. I've pretty much stayed out of the fray with regard to Enron because I'm not an economist and I believe people way more knowledgeable than me have already explained it.

What struck me was the interview of one of the experts, Kurt Eichenwald, a reporter for the NY Times. He had this to say, and I paraphrase "Ken Lay was responsible because he was at the top, the CEO". I tend to agree with that as a veteran. In the military, the CO is the one who takes the fall.

Now I'm not taking Lay's side for it seems that he and the experts he employed (including NY Times columnist Paul Krugman) scammed the market. However, going by Mr. Eichenwald's point of view, shouldn't Pinch Schulzberger, the CEO of the Times also be out of work because of the Jayson Blair affair? The Times sells its credibility as a product and that product was found to be at least as poor quality as the Edsel or anything that Enron did.

Right now 60 Minutes has a segment on Holland and the execution of Theo van Gogh including an interview with MP Hirsi Ali.